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Abbott Considered Acquiring Wyeth

By

Matthew Karnitschnig

Updated March 30, 2009 4:26 p.m. ET

Abbott Laboratories held preliminary discussions with Wyeth in mid-December about acquiring the company but decided not to pursue a deal amid concerns over price and other issues, according to people familiar with the matter.

Abbott approached Wyeth after learning that the company was in talks with Pfizer Inc. Pfizer agreed to acquire Wyeth on Jan. 26 for $68 billion. The transaction has yet to close.